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ORDINAL: A measurement based on a ranking, such as first, second, and third, that enables a relative comparison of more or less. Relative comparability means, for example, that first is more than second and second is more than third, but how much more is not known. Cardinal measures, which use a quantitative measurement scale, is an alternative type of measure. An ordinal measure can be thought of as a list for high to low, good to bad, top to bottom, and are often based on subjective evaluations of items. The notion of ordinal measurement is most often seen in the economic analysis of indifference curves and utility.
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PRICE DISCRIMINATION The act of selling the same good to different buyers for different prices that are not justified by different production costs. This is practiced by suppliers who have achieved some degree of market control, especially monopoly. Common examples of price discrimination are electricity rates, long-distance telephone charges, movie ticket prices, airplane ticket prices, and assorted child or senior citizen discounts. Price discrimination takes the form of one of three degrees: (1) first degree, in which each price is the maximum price that buyers are willing and able to pay, (2) second degree, in which price is based on the quantity sold, and (3) third degree, in which prices are based on an easily identifiable characteristic of the buyer.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either galvanized steel storage shelves or a large green chalkboard shaped like the state of Maine. Be on the lookout for mail order catalogs with hidden messages.
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The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
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"Most battles are won before they are ever fought." -- General George Patton
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New York Stock Exchange
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